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Sep 30
McKesson Q2 2026 Earnings Report
McKesson Corporation reported strong second quarter fiscal year 2026 results, with record revenues and significant increases in net income and adjusted earnings per diluted share.
Key Takeaways
McKesson Corporation announced record high revenues of $103.2 billion for the second quarter of fiscal 2026, a 10% increase year-over-year. Net income attributable to McKesson Corporation surged by 361% to $1.11 billion, and adjusted earnings per diluted share increased by 39% to $9.86. The company also generated $2.4 billion in cash flow from operations.
Quarterly consolidated revenues reached a record high of $103.2 billion, an increase of 10% compared to the prior year.
Earnings per diluted share increased by $7.05 to $8.92, representing a 377% increase.
Adjusted Earnings per Diluted Share rose by 39% to $9.86.
The company generated $2.4 billion of cash flow from operations and $2.2 billion of Free Cash Flow.
McKesson
McKesson
McKesson Revenue by Segment
Revenue by Segment
North American Pharmaceutical Revenue
CapyFin.comOncology & Multispecialty Revenue
CapyFin.comPrescription Technology Solutions Revenue
CapyFin.comMedical-Surgical Solutions Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
McKesson is raising its fiscal 2026 Adjusted Earnings per Diluted Share guidance range to $38.35 to $38.85, from the previous range of $38.05 to $38.55, indicating 16% to 18% growth compared to the prior year.
Positive Outlook
- Raised Adjusted Earnings per Diluted Share guidance range to $38.35 to $38.85.
- New guidance range indicates 16% to 18% growth compared to the prior year.
- The increase builds on a previous $0.80 increase announced at Investor Day in September 2025.
- Confidence in the outlook for the remainder of the year.
- Continued momentum across the portfolio.
Challenges Ahead
- The company does not forecast GAAP earnings per diluted share.
- Unable to provide a quantitative reconciliation of forward-looking Non-GAAP measures to GAAP without unreasonable effort.
- Difficult to predict and estimate LIFO inventory-related adjustments.
- Uncertainty regarding litigation loss and gain contingencies, restructuring, impairment, and related charges.
- Various factors beyond the company's control could cause GAAP performance to vary materially.
Revenue & Expenses
Visualization of income flow from segment revenue to net income